Integrated Forecasting & Reporting for All Channels: Your Guide to Drivepoint’s 2024 Releases
Do you spend more than 20 hours a month pulling data from multiple channels and wrangling it in spreadsheets? If so, you’re not alone. According to a study from ThoughtSpot, 92% of business professionals spend significant time translating spreadsheets for their teams, investors, and external partners.
For omnichannel leaders, this is all too common. Without a centralized data system to gather, analyze, and share operational and financial data from all your channels, making informed decisions for your business can be challenging.
That’s why we’re pleased to introduce a slew of new Drivepoint features designed to help you see the whole truth, across all channels, and align your teams on the right financial and operational goals.
If you’re sick of having your Amazon and wholesale numbers siloed off from your DTC data, you’re going to love our new integrations. In a single click, you can integrate data from all these channels with Drivepoint and use that data to build intelligent forecasts natively in your SmartModel™.
Here’s a deeper dive into what’s new.
Forecast & analyze your Amazon business like never before
Our returning customer prediction engine works just as well with Amazon as it does with Shopify, offering you top-level insights into customer behavior and customer LTV.
Wrangling your Amazon sales data used to be cumbersome, but now, keeping up with Amazon has never been easier. You can find Amazon sales reports, cohort analysis reports, and all your forecasts through Drivepoint — with the same easy access and intuitive visuals as your Shopify data.
This new integration has it all, including: the same bespoke returning customer prediction engine you loved using with Shopify, separate subscription and non-subscription customer views, and the ability to forecast Amazon sales using granular historical data.
Whether you’re only dipping your toes into Amazon or it’s where you do most of your sales, you can effortlessly visualize how it impacts your path to profitability and bottom line, even after fees.
Drive your wholesale forecast at the account level using real data, not guesswork
The transition to wholesale is rife with uncertainties, but its impact on your financial reporting shouldn’t be one of them. Thanks to our new partnership with Muffin Data, you can integrate all your wholesale reports and forecasts with Drivepoint.
Want to compare performances across your Target, Whole Foods, and Walmart accounts? Just head to the Muffin platform, upload your wholesale and distributor data, and it will instantly integrate with your Drivepoint account.
Within a matter of days, you’ll be able to forecast units solid and velocity metrics per store selling, SKU, or account on a daily, weekly, and monthly basis. You can also easily export and share any of these reports directly from the Drivepoint Web-App.
Once things are up and running, you’ll be able to see how each channel stacks up and plan your inventory levels accordingly.
If you have any questions about the integration, our team is always happy to jump on a call to show you your data in action.
Access key metrics, insights, and reports in a single, well-organized location
We also gave our Reports page a makeover for easier sharing with internal and external stakeholders. The new layout neatly organizes all your financial and operational reporting, allowing you to toggle between bundles and individual reports.
What’s more, each bundle is labeled with a description so you always know exactly what you’re clicking.
Within each report, you’ll find user-friendly visuals and handy explanations that anyone who accesses it can understand.
If you want to keep tabs on any report in particular, you can favorite it so that it shows up in the sidebar for quick access. And, if you’re looking for the most granular insights on any report or set of reports, you can schedule them to be sent straight to your inbox on a daily basis.
Advanced Reporting Capabilities: N-Day LTV, Nth Order Retention, Performance vs. Plan for Mid-Month Review
We pride ourselves on offering our customers incisive, macro-level financial insights. But we know you need the nitty-gritty, everyday intel too. That’s why we offer customizable reports covering so many different metrics over so many different time frames.
To that end, we’re pleased to roll out three new reports.
N-Day LTV
LTV is notoriously tricky to track — and even trickier to translate to investors. With our new N-Day LTV report, you can view LTV and CAC as a trend over time in terms your investors will understand.
Investors always want to know how much value you’ve managed to extract and sustain from each cohort since day one. So, whether retention rates have improved, stagnated, or declined over time, this new report provides a sweeping, 360-degree view.
Nth Order Retention
It also just got easier to track retention on a more granular level. Our Nth Order Retention report lets you see how many customers in a cohort have made a fourth, fifth, or sixth order within a certain length of time since their first order.
You can adjust the view by cohort intervals, subscription and non-subscription-segments, and number of days since the first purchase. This also enables you to make comparisons between cohorts. If, for instance, you want to know whether a January or March cohort has a higher second order retention rate, you can conveniently pull up that data.
Performance vs. Plan for Mid-Month Review
You no longer have to wait until the end of the month to see how your current performance is stacking up to your plan. Our new performance vs. plan report lets you check in at the mid-month point.
Just like our monthly report, this report shows you how efficiently you’re using your budget and how well you’re pacing for different scenarios. Maybe you want to know whether or not your increased ad spend has already moved the needle, or perhaps you just can’t wait to track the progress of a new retail rollout. Whatever the scenario, this report offers real-time updates.
New Knowledge Hub: Find instant answers to your most pressing questions
At Drivepoint, our job is to make your FP&A work easier, not harder. And our new Knowledge Hub anticipates your questions before you ask them, putting answers to the most common customer queries all in one convenient place.
In addition to general FAQs, you’ll find tips and tricks for the following:
- Getting started with Drivepoint
- Data Integrations
- The SmartModel™
- The Excel Add-In
- The Web-App
The next time you fear you’ve made a huge mistake — such as rolling one of your models forward — the Knowledge Hub has you covered.
You can find answers directly on the Knowledge Hub page as well as within individual reports themselves. To find answers within a report, just click on the light bulb icon. There, you can access report-specific documentation, including breakdowns of each metric and best practices for interpreting the report.
Plus, if an issue we haven’t addressed yet does crop up, we’ll update our Knowledge Hub to troubleshoot that scenario too. We’re constantly adding new answers as more questions pour in.
Bookmark it now for easy access, and then let us know what you think!
Ready to manage all your financials in one place?
Drivepoint lets you access and easily share data from every channel in a single FP&A platform.
And, if you ever want to know more about how to make the most of our tool, our wealth of onsite resources and expert team of FP&A analysts are here to help you every step of the way.
Schedule a demo with our team, and we’ll show you how to make the most of your ecommerce financial data.
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